Monday, October 17, 2011

10-18-2011 outlook

The expected top may have been Friday?  Today's action down was more like what I am showing for 10-18 on my charts.  I guess we see tomorrow if I am off by 1 day - because I am showing everything except the 22TD cycle down tomorrow (and the 22TD cycle should be fading/losing "mo" fast).  Also. we may have seen the 20 week (wall cycle) top.

My charts show lots of downside potential tomorrow unless that happened today.  Here is the SPX:

GL traders, exact timing is difficult.  I did tell you late last week we were getting buy signals for RWM and QID and they did well for me today.  


  1. I am hoping that the cycles are positioned correctly, since I would like 1 more down day. Looks like I bought my SDS calls 1 day too early, so with yesterday's market selloff, I am even with the trade.

    Phils Davis seemed a bit bullish today. He would like to see the market break out of its trading range to the upside. He believes yesterday's selloff was not enough to turn bearish.

    Keystone says the utilities (^DJU) stayed strong yesterday and this limited the selloff. If it stays strong, bullishness will return. ^DJU needs to sell off & break 436.75 for the markets to sell off significantly.

    Let's see what happens today.

  2. IBM was light on revenues. Now APPL misses. INTC beats. I think we can say that not all tech companies will out perform. So this is going to make for an interesting earnings season.

    The rally this afternoon may well have been the cycles peak.